US AI CAPEX HITS RECORD SHARE OF GDP

US private investment in information processing equipment and software reached 5.05% of GDP in the second quarter, the highest share since the series began in 1959, according to Bureau of Economic Analysis data compiled by the Federal Reserve. That tops the 4.46% peak hit in the fourth quarter of 2000, right before the dot-com bust tipped the economy into recession. The category is now running at an annual rate of $1.65 trillion, with AI infrastructure spending driving most of the increase across the companies that make up $QQQ.